Mississippi Casino kamer1.comhttp://kamer1.com
Thu, 15 Feb 2018 12:05:53 +0000en-UShourly1https://wordpress.org/?v=4.9.4http://kamer1.com/wp-content/uploads/2018/02/142-150x150.pngMississippi Casino kamer1.comhttp://kamer1.com
3232New Casino Gambling Could Put A Damper on Florida Lottery Saleshttp://kamer1.com/casino-gambling/
http://kamer1.com/casino-gambling/#respondSat, 23 Dec 2017 07:41:36 +0000http://kamer1.com/?p=27The Florida Lottery was a program that was started nearly twenty years ago to help the state’s education system financially. Over the years millions of dollar has come into the …

]]>The Florida Lottery was a program that was started nearly twenty years ago to help the state’s education system financially. Over the years millions of dollar has come into the education system from the lottery.

After almost twenty years of being the only ticket in town, change could be on the horizon for the state lottery. Expanded gambling in the state’s casinos could mean a drop in business for the lottery.

Broward County has gone to Vegas style slot machines in their parimutuels. The Indian casinos have just received permission to install the Vegas style slots throughout their state casinos. They also will be allowed to offer blackjack and baccarat.

Miami Dade voters have just voted for the Vegas style slots in their County. All of these expanded gambling options could have a negative effect on old reliable, the state lottery.

No data currently backs up the theory of lottery sales dropping in Broward since the added gambling in the casinos. With Miami Dade adding the slot machines, and with the Seminole expansion, however, there is the possibility of lottery sales declining.

The economy is getting tighter in the state, much like around the nation. People will soon, if not already, be having to make decisions on where to spend their precious few extra entertainment dollars. That is where the drop off for the lottery could occur.

The lottery has survived several difficult economic periods. It has the resolve and the draw that could withstand the influx of competition. Only time will tell if the expanded gambling will hurt what is now a state institution, the lottery.

Exceptions Sought For Casinos, Bars, Under New Smoking Laws in Illinois

Illinois is just doing what many state before them have already done. They have put laws in place that call for a smoking ban in all indoor public places.

The ban is causing business to drop in many establishments. Bar and casino owners are looking for some relief to the new laws that have only been in place for a little over a month.

The two groups, along with veterans’ organizations are expected to ask lawmakers to ratify the laws to allow for smoking exceptions in some areas. The state General Assembly will be back in Springfield this week and the new law will be one of interest at the meetings.

The whiplash effect is one that is common when these new smoking laws go into affect. “It’s February 8th. It went into effect January 1st. Give it a chance. We’ve only gone thirty some days. I’m not willing to talk about any exceptions until we give it a chance,” said one of the creators of the new ban, Senator Terry Link.

The casino industry, which figured to be one of the industries that would be hit hardest by the smoking ban, claims that they have already seen a decrease of seventeen percent in their business this year.

The drop in business could have as much to do with the struggling economy as with the smoking ban. That is why Senator Link has taken his wait and see approach before revisiting the issue.

]]>http://kamer1.com/casino-gambling/feed/0MyOhioNow.com Starts Casino Petition Drive in Northeast Ohiohttp://kamer1.com/starts-casino/
http://kamer1.com/starts-casino/#respondSat, 26 Aug 2017 07:41:34 +0000http://kamer1.com/?p=26MyOhioNow.com, the group that is supporting the initiative petition to put a casino in Ohio on the November 4th ballot, will start the petition collection today in the Youngstown/Warren area. …

]]>MyOhioNow.com, the group that is supporting the initiative petition to put a casino in Ohio on the November 4th ballot, will start the petition collection today in the Youngstown/Warren area.

MyOhioNow.com founders Rick Lertzman and Dr. Brad Pressman will be in the Warren/Youngstown area today to discuss the issue and will be meeting with the petition circulators who begin their task today.

A minimum of 402,205 signatures in 44 of Ohio’s 88 counties must be collected to place this measure before the voters. The petition has been certified by Attorney General Marc Dann, Secretary of State Jennifer Brunner and the Ohio Ballot Board.

“We are pleased to announce this kickoff in the Youngstown/Warren area. We feel that it is necessary to get the support of the Mahoning Valley and the Warren area to bring this $600 million destination resort casino to Ohio that will benefit all Ohioans,” said Rick Lertzman, co-founder of MyOhioNow.com.

“Our plan to share the wealth with all 88 counties I think will be a big factor in this issue. This is finally a casino plan for Ohio that makes sense. With this money, counties can decide for themselves how to best spend the tax revenues in their communities. We believe that this will resonate throughout all the counties including here in Trumbull and Mahoning”, remarked Dr. Brad Pressman, co-founder of MyOhioNow.com.

Any person interested in joining the MyOhioNow.com petition drive or signing a petition should call 1-800-285-1276 for additional details.

]]>http://kamer1.com/starts-casino/feed/0MyOhioNow to Follow Ballot Board Determinations For Casino Initiativehttp://kamer1.com/casino-initiative/
http://kamer1.com/casino-initiative/#respondMon, 14 Aug 2017 07:41:31 +0000http://kamer1.com/?p=25Upon review of the language for an initiative petition to allow one casino in Ohio, which was certified by the Ohio Attorney General Marc Dann on November 30, 2007 , …

]]>Upon review of the language for an initiative petition to allow one casino in Ohio, which was certified by the Ohio Attorney General Marc Dann on November 30, 2007 , the Ohio Ballot Board has suggested that the initiative be split into three issues.

The Ballot Board decided to split the ballot issue into three separate proposals:

1)The main proposal

2)The liquor license provision

3)The provision that gives the gaming commission the authority to adopt laws and regulations.

The Board heard testimony from two witnesses: Don McTigue, who represented Charles Ruma who owns Beulah Park Racetrack and Don Mottley of the law firm Taft Stettinius who represented MyOhioNow.com. The Board, without discussion, voted 4 – 0 (one member absent) to accept McTigue’s recommendation. The necessary motions and other paperwork to split the ballot into three issues had been prepared in advance.

The Ohio Board, as led by Secretary of State Jennifer Brunner includes 4 members: Sen. Eric Kearney, William Morgan, and former lobbyist Paul Tipps. Sen Randy Gardner was not present.

Following the Board’s determination, MyOhioNow.com has eliminated the verbiage regarding the liquor license and gaming commission from the initiative, which now reflects the one issue for the main proposal.

Rick Lertzman, co-founder of MyOhioNow.com remarked, “This is just one more step in a long road, much as we have expected. We are moving forward and voters can look forward to this issue on the November 4, 2008 ballot.”

Dr. Bradford Pressman, co-founder of MyOhioNow.com said, “Our team will be out to collect the necessary 1000 signatures beginning this weekend to resubmit the petition to the Ohio Attorney General. We will not be deterred or slowed in this process. We are responding immediately and strongly to resolve this. The Attorney General will have the initiative, that reflects one issue, early next week for certification.”

Under the initiative, Ohioans would have the opportunity to vote to legalize a $600,000,000 casino/resort destination site that is located off I-71 (at State Route 73) that is centrally located between the Columbus/Cincinnati/Dayton areas in Clinton County.

]]>http://kamer1.com/casino-initiative/feed/0Mohegan Casino Investment Group Reaps Ridiculous Rewardshttp://kamer1.com/mohegan-casino/
http://kamer1.com/mohegan-casino/#respondThu, 23 Feb 2017 07:41:29 +0000http://kamer1.com/?p=24Loopholes in the law governing how proceeds from Indian casinos are split have allowed investors to collect far more than a reasonable return, to the detriment of tribes involved, say …

]]>Loopholes in the law governing how proceeds from Indian casinos are split have allowed investors to collect far more than a reasonable return, to the detriment of tribes involved, say federal regulators.

The Mohegan Casino of Connecticut has paid $369 million to a small group of casino investors and advisors over the last six years, more than the entire Mohegan tribe has received.

Trading Cove, a company formed by Sol Kerzner, Len Wolman, and other investors, formed in the nineties to help the Mohegans build a casino to rival the Pequots’ Foxwoods Casino. Trading Cove invested $10 million directly, and guaranteed bonds sold to raise another $90 million; the payoff for this by the time the contract expires in 2015 will be over $1 billion.

The Indian Gaming Act of 1988 was passed precisely to prevent overpayment by the tribes, and to ensure that the lion’s share of profits went to help Indian tribal members, a group which consistently ranks among the country’s most poverty-stricken.

Even though outside groups are permitted to help manage casinos until tribal members have the experience to do so themselves, the payment for such services was limited to 30%of gaming profits; however, Trading Cove negotiated a contract which paid them 5%of all revenue, not just profit, and included all forms of income from hotels, restaurants, merchandising, and other sources.

The loophole allowing outside investors to take such profits is one in the existing law that applies restrictions only to contracts specifically for management; other contracts, such as for consulting, avoid restriction.

U.S. Senator John McCain attempted to revise the laws with a new bill this past year, designed to eliminate loopholes that divert money from tribes. The bill passed unanimously out of the Indian Affairs Committee, but was vigorously opposed by lobbyists and never brought to the Senate floor.

Perhaps the Mohegans and other tribes being taken advantage of should examine the history of the Seminole tribe in Florida. After entering a contract with Cordish Company to build the Seminole Hard Rock Hotel and Casino in Hollywood, Florida, the Seminoles subsequently refused payments due by the contract to Cordish on the basis that revenues were much higher than anticipated. And, therefore, Cordish would receive an unreasonable return.

Seminole tribal council members have stated for the record that is not only their right, it is their duty to the tribe to disregard any contracts that may become unfavorable to the tribe. Their position is that they are on sovereign land and will conduct themselves accordingly.

Perhaps Trading Cove and other such groups should fear their greed will result in losing their share of the golden goose.

]]>http://kamer1.com/mohegan-casino/feed/0Mississippi Casinos Set Records, Help State Recoverhttp://kamer1.com/set-records/
http://kamer1.com/set-records/#respondMon, 09 Jan 2017 07:41:25 +0000http://kamer1.com/?p=23Even after the devastation caused by Hurricane Katrina less than three years ago, the Mississippi Gulf Coast finds its casino industry growing at a remarkable rate. Despite having properties utterly …

]]>Even after the devastation caused by Hurricane Katrina less than three years ago, the Mississippi Gulf Coast finds its casino industry growing at a remarkable rate. Despite having properties utterly destroyed by the storm, casinos have rebuilt and reorganized to the point that 20007 is expected to have been a record year for revenue.

The executive director of the mississippi Gaming Commission, Larry Gregory, had set an ambitious goal of $3 billion in gross receipts at the beginning of the year, and he recently said, “It’s going to be very close. There’s no doubt it will be a record.”

Commission represenatives noted that, while in 2006 monthly casino revenues topped $100 million only one time, in 2007 every month topped the $100 million mark except one.

Even as Atlantic City and other areas try to devise strategies to cope with losses incurred by stiffer and more numerous competition, Mississippi surged forward, closing the gap between itself as the third-largest casino market in the U.S. and Atlantic City as the second. Las Vegas remains first.

Over 15,000 jobs exist in the Mississippi casino industry, and that number is expected to increase as new casinos in Biloxi and D’Iberville open soon.

Terence Robicheaux, employee of the Beau Rivage Casino, said, “Without the help and influx of cash from the casinos, the Gulf Coast would still be in tatters. We have a long way to go, but the gambling businesses have made repairing our lives easier.”

]]>Casino expansion plans in Mississippi have hit a roadblock with local commissioners. Plans by Island View Casino to expand its casino and retain its luxurious view and setting on the water in Gulfport, Mississippi, have run afoul of plans to expand the city’s port in the same area, west of the existing port.

At a closed-door meeting of the State Port Authority, executives from Island View Casino were lambasted by port commissioners, who felt the casino company had tried to use newspaper and television coverage to pull an end-run around the port’s plans. Comissioners claimed their plans had been leaked by the casino, a claim denied by the casino’s represenatives and lawyers.

Beachfront property which presently allows for viewing of the Gulf of Mexico and Cat Island from the casino would be replaced by the indutrial sight of barges and shipping containers if the port expanded westward.

The casino has suggested that the port expand southerly instead, but port officials say the nature of the channel and water depth issues render this solution problematic.

The Island View Casino is on land, rather than floating on barges, as allowed by recent changes in Mississippi laws. The newer laws stipulate that casinos located within three hundred feet of water are qualified as being on water, as the original law required. Because of the change, there are debates all along the state’s coastline as to the relative value of casinos in relation to the traditional shrimping, canning, and shipping indutries.